News Highlights: Top Company News of the Day

06/29/2020 | 11:16 pm
Boeing Faces Big 737 MAX Cancellation From Norwegian 
 

Norwegian Air Shuttle ASA said it is its canceling orders for 92 of Boeing Co.'s troubled 737 MAX jets, threatening to add to the U.S. planemaker's mounting financial strain.

 
Wells Fargo to Cut Dividend; Other Big Banks Hold Steady 
 

The fourth-largest U.S. bank, unlike its major rivals, expects to cut its dividend for the first time in more than a decade to help weather the coronavirus pandemic.

 
Chesapeake Energy to Start Tapping $925 Million Bankruptcy Loan 
 

The oil-and-gas producer has been cleared to begin drawing on a $925 million bankruptcy loan, a crucial first step in its plan to eliminate billions of dollars of debt from its balance sheet in chapter 11.

 
Cirque du Soleil Files for Bankruptcy Protection in Canada 
 

Investment firms TPG, Fosun International and Caisse de Depot et placement du Quebec have submitted a proposal to buy the circus company's assets

 
Las Vegas Workers Sue Casinos Over Covid-19 Safety 
 

Las Vegas Strip hospitality workers sued casino operators, saying they failed to protect employees from the coronavirus, in one of the first efforts to hold employers legally responsible for infections as U.S. cases surge.

 
Lululemon Buys Mirror, an At-Home Fitness Startup, for $500 Million 
 

Lululemon is buying at-home fitness company Mirror for $500 million, a deal that aims to capitalize on pandemic-fueled upheaval in the fitness and retail industries.

 
Facebook Ad Boycott Grows, Citing Failure to Control Hate Speech 
 

Ford, Clorox and Denny's are joining a parade of companies that have moved to halt advertising spending on Facebook because of how the social-media giant has handled speech on its platforms.

 
AMC Delays Reopening Theaters to Late July 
 

The largest theater chain in the U.S. is postponing plans to reopen its U.S. locations by about two weeks, to July 30, following date changes for the upcoming releases of two major films.

 
Reddit Bans The_Donald, a Popular Forum for Trump Supporters 
 

The online platforms Reddit and Amazon.com-owned Twitch suspended channels used by President Trump and his supporters, saying content there violated the companies' policies

 
India Blocks Chinese Apps, Including TikTok, After Border Clash 
 

India banned dozens of Chinese mobile apps, including widely used TikTok and WeChat, after a border clash between troops from the two countries left 20 Indian soldiers dead this month.

 
 

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